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Off Market
1/3

1350 E Mahan Dr
Tallahassee, FL 32308


HIGHLIGHTS

  • • Centric location, surrounded by many national retailers, and at the corner of Mahan Dr and Magnolia
  • • Value add opportunity: Vacancy is around 10%
  • • Out-parcel can be sold separate: Ask Price of $700,000 (site plan approved on out-parcel and owner will build to suit)
  • • Below market rents, planned to increase to market rates as renewals come up due to the fresh 1M+ renovation
  • • The center is a long term hold. We believe that if you can slowly escalate rents and sell off the out parcel within 24 months this asset will be ope

OVERVIEW

• Hot location with highway frontage in between Tallahassee Memorial Hospital and Governor Square Mall • Seconds from downtown Tallahassee •The center is a value add situation with the NOI making this offering a 7 cap with its existing figures (includes out-parcel) if out-parcel was sold for market, the center would be nearly a 9 cap existing. •Out-parcel available for excellent medical office opportunity near hospital or drive thru/retail site •Out-parcel has storm water in place with utilities to the site - very little site work needed to be a true pad site • Parking lot, signs, and buildings all newly renovated in 2019 year end.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

-

BUILDING DETAILS

PROPERTY NAME

Mahan Square

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

35348

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

11-31-20-001-000.0